Independent Reserve Exchange Review
An independent reserve is a centralized exchange that ranks #117 on Guru InvestingExchange Tracker. Independent reserve has trading volume US$9,385,330 in the last 24 hours and US$4,458,385,456 in the last 7 days.
The independent reserve currently has 31 cryptocurrencies, 4 paper currencies and 93 markets (cryptocurrency trading pairs). The most popular trading pair on Independent Reserve is XRP/USD.
Compare Independent reserve next to other exchanges here: Exchange comparison tool.
The Independent Reserve cryptocurrency exchange was created in 2013 to meet people’s cryptocurrency trading and investment needs. Australia and New Zealand. The company is fully compliant, regulated and part of ADCA (Australian Digital Commerce Association). The exchange undergoes regular audits and is constantly monitored by the Australian Transaction Reports and Analysis Center (AUSTRAC).
Cryptocurrency exchange Independent Reserve is required by law to verify the identities of all its account holders. Certain information is requested by the exchange depending on the nationality or location of the account holder. The information provided is then checked against databases in the account holder’s country, as well as various anti-money laundering and anti-terrorist financing databases.
Although the platform is intended for residents of Australia and New Zealand, residents of more than 30 countries can also use it. The platform supports four major fiat currencies: Australian dollar, New Zealand dollar, Singapore dollar and US dollar.
Markets
There are four markets available on the Independent Reserve cryptocurrency exchange, and all of them based on paper money. These markets are the AUD, NZD, SGD and USD markets. The platform is mainly exchange cryptocurrency for fiat and vice versa. Independent spot trading of reserves has features such as Limit buy, limit sell, market buy, market sell, stop limit buy and stop limit sell.. Platform does not support futures, margin or derivatives trading. Eat 65 independent backup trading pairs available for trading on the exchange.
No Crypto commissions of the Independent Reserve for deposits in cryptocurrency. However, only deposits of 100 AUD and above are free. Deposits under AUD $100 are subject to a AUD $0.99 processing fee. Likewise, deposits under NZD 5,000 incur a NZD 15 fee, while deposits over NZD 5,000 are free. The same amount applies to deposits in US dollars. Incorrect or missing payment references will incur a $20 independent reserve exchange fee. This is to cover the cost of tracking down a payment if it is not reflected in the user’s account. Deposits to your trading account can be made via bank transfers or SWIFT transactions.
Trading fees are structured to offer lower trading fees to traders with high trading volume on the Independent Reserve. The amount paid as trading commissions ranges from 0.50% to 0.02%.
Withdrawals in Australian dollars are free. However, for international withdrawals, the exchange charges a withdrawal fee of $20. Withdrawing SDG is more expensive: the commission is 0.55% of the withdrawal amount. When withdrawing cryptocurrencies, the fees charged vary depending on which cryptocurrency you are withdrawing. The Independent Reserve cryptocurrency price for Bitcoin withdrawal is set at 0.0003 BTC.
About company
Independent Reserve cryptocurrency exchange was founded in 2013 Adam Tepper and Adrian Przelezny. The company is based in Sydney, Australia.
The exchange’s goal is to create the safest and most reliable way to buy Bitcoin and other cryptocurrencies in Australia. Moreover, they are committed to turning cryptocurrency technology into a safe, secure and regulated financial service.
The platform has grown to serve over 250,000 customers from Australia, New Zealand and around the world. In addition, the exchange is trusted by thousands Self-managed super funds. The 24-hour trading volume of independent reserves in December 2022 was $17 million.
Since their launch they have created order book exchange and over-the-counter helpdesk, have expanded into Southeast Asia and continue to create new features and partnerships that add value to their users.
The independent cryptocurrency reserve exchange is entirely focused on providing its clients with world-class security, including Two-factor authentication, ISO 27001 certification, and top-tier underground vaults used to protect their cryptocurrency.. In addition, the exchange is controlled by an experienced advisory board chaired by Mike Tilley, former CEO of Merrill Lynch Australia and Challenger Limited. Independent Reserve is a verified and certified gold member Blockchain Australiawhich represents the cryptocurrency industry in Australia.
CEO Adrian Przelezny is a board member of Blockchain Australia. He contributed to Australia’s blockchain roadmap and presented the case against a cash ban.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
